#Yemen’s Houthi rebels seize cargo ship in #Red_Sea and call #Israeli vessels ‘legitimate targets’
Yemen’s Houthi rebels said they have seized what they called an Israeli cargo ship in the Red Sea, and warned that all vessels linked to Israel “will become a legitimate target for armed forces”.
Houthi forces would “continue to carry out military operations against the Israeli enemy until the aggression against Gaza stops and the ugly crimes … against our Palestinian brothers in Gaza and the West Bank stop”, said a spokesperson for the group, Yahya Sare’e, in a statement on X.
On Monday the rebels released a video purporting to show Sunday’s seizure.
The footage showed masked armed men jumping on to the ship from a helicopter while the vessel was still moving, and holding crew members at gunpoint. Palestinian and Yemeni flags were raised onboard. It was not immediately possible to verify the clip.
Israel said the vessel was a British-owned and Japanese-operated cargo ship and described the incident as an “Iranian act of terrorism” with consequences for international maritime security.
Israel’s military, writing on X, said “the hijacking of a cargo ship by the Houthis near Yemen in the southern Red Sea is a very grave incident of global consequence”.
https://www.theguardian.com/world/2023/nov/20/yemen-houthi-rebels-seize-cargo-ship-galaxy-leader-red-sea-israel
Yemen’s Houthi rebels said they have seized what they called an Israeli cargo ship in the Red Sea, and warned that all vessels linked to Israel “will become a legitimate target for armed forces”.
Houthi forces would “continue to carry out military operations against the Israeli enemy until the aggression against Gaza stops and the ugly crimes … against our Palestinian brothers in Gaza and the West Bank stop”, said a spokesperson for the group, Yahya Sare’e, in a statement on X.
On Monday the rebels released a video purporting to show Sunday’s seizure.
The footage showed masked armed men jumping on to the ship from a helicopter while the vessel was still moving, and holding crew members at gunpoint. Palestinian and Yemeni flags were raised onboard. It was not immediately possible to verify the clip.
Israel said the vessel was a British-owned and Japanese-operated cargo ship and described the incident as an “Iranian act of terrorism” with consequences for international maritime security.
Israel’s military, writing on X, said “the hijacking of a cargo ship by the Houthis near Yemen in the southern Red Sea is a very grave incident of global consequence”.
https://www.theguardian.com/world/2023/nov/20/yemen-houthi-rebels-seize-cargo-ship-galaxy-leader-red-sea-israel
the Guardian
Yemen’s Houthi rebels seize cargo ship in Red Sea and call Israeli vessels ‘legitimate targets’
Footage shows masked gunmen jumping on to Galaxy Leader, which Israel says is British-owned
#Ethiopia, #kenya, #Somalia
Severe floods affect tens of thousands of displaced people in #Horn_of_Africa
Thousands of displaced families, including refugees in Ethiopia, Kenya and Somalia, are on the move yet again, escaping severe floods caused by ongoing heavy rains across the region.
In Ethiopia’s #Somali Region, authorities estimate more than 20 people have died, while over half a million people have been affected by flash floods. Close to 40,000 families, or around 240,000 people, including those seeking safety from ongoing conflict in Somalia, have been displaced, more than half of them in the Dollo Ado and Bokolmayo districts.
Across five settlements, 213,000 refugees have also suffered the effects of the flooding. Clean and safe drinking water is scarce, accessing health services is difficult and nearly 1,000 families have lost their shelters.
https://www.unhcr.org/news/briefing-notes/severe-floods-affect-tens-thousands-displaced-people-horn-africa
Severe floods affect tens of thousands of displaced people in #Horn_of_Africa
Thousands of displaced families, including refugees in Ethiopia, Kenya and Somalia, are on the move yet again, escaping severe floods caused by ongoing heavy rains across the region.
In Ethiopia’s #Somali Region, authorities estimate more than 20 people have died, while over half a million people have been affected by flash floods. Close to 40,000 families, or around 240,000 people, including those seeking safety from ongoing conflict in Somalia, have been displaced, more than half of them in the Dollo Ado and Bokolmayo districts.
Across five settlements, 213,000 refugees have also suffered the effects of the flooding. Clean and safe drinking water is scarce, accessing health services is difficult and nearly 1,000 families have lost their shelters.
https://www.unhcr.org/news/briefing-notes/severe-floods-affect-tens-thousands-displaced-people-horn-africa
#Ethiopia: Sur Construction to transform historic Abrha Castle hotel into five-star luxury retreat
#Sur_Construction, a limited company, is embarking on the transformation of the historic #Abrha_Castle Hotel in #Mekelle City, with the aim of turning it into a prestigious five-star luxury retreat, according to state media reports.
Zinfu Assefa, the managing director of Sur Construction, recently engaged in discussions with stakeholders in Mekelle, the capital of the #Tigray region. During these discussions, Sur Construction and #Messebo_Cement, both major companies for the Endowment Fund for the Rehabilitation of Tigray (#EFFORT), reached an agreement to enhance the tourism sector in Tigray within a limited timeframe and with limited resources.
The Abrha Castle Hotel, which served as the residence of Dejazmach Abrha Areya (1872–1917), the governor of Tigray, is built on a man-made raised landscape and has functioned as a hotel since 1960.
#Sur_Construction, a limited company, is embarking on the transformation of the historic #Abrha_Castle Hotel in #Mekelle City, with the aim of turning it into a prestigious five-star luxury retreat, according to state media reports.
Zinfu Assefa, the managing director of Sur Construction, recently engaged in discussions with stakeholders in Mekelle, the capital of the #Tigray region. During these discussions, Sur Construction and #Messebo_Cement, both major companies for the Endowment Fund for the Rehabilitation of Tigray (#EFFORT), reached an agreement to enhance the tourism sector in Tigray within a limited timeframe and with limited resources.
The Abrha Castle Hotel, which served as the residence of Dejazmach Abrha Areya (1872–1917), the governor of Tigray, is built on a man-made raised landscape and has functioned as a hotel since 1960.
#Sudan: Burhan mends fences with #Kenya, #Ethiopia as Hamdok returns
Sudan’s leader of the Transitional Sovereign Council Abdel Fattah al-Burhan was this week recording new successes on the diplomatic front, shaking hands with Kenya’s President William Ruto and Ethiopian Prime Minister Abiy Ahmed.
It happened as ousted prime minister Abdalla Hamdok resurfaced as the face of the alternative political movements seeking a role in the transitional dialogue in Sudan.
Sudan’s leader of the Transitional Sovereign Council Abdel Fattah al-Burhan was this week recording new successes on the diplomatic front, shaking hands with Kenya’s President William Ruto and Ethiopian Prime Minister Abiy Ahmed.
It happened as ousted prime minister Abdalla Hamdok resurfaced as the face of the alternative political movements seeking a role in the transitional dialogue in Sudan.
“Efforts to bring all the concerned parties in the Sudan conflict together to resolve the conflict are in top gear. It is important that all stakeholders in the Sudan are involved in reaching a solution that will stop the loss of life, destruction of infrastructure and property and return the country to normalcy,” Ruto said.
https://www.theeastafrican.co.ke/tea/rest-of-africa/-burhan-mends-fences-with-kenya-ethiopia-as-hamdok-returns-4440374
Sudan’s leader of the Transitional Sovereign Council Abdel Fattah al-Burhan was this week recording new successes on the diplomatic front, shaking hands with Kenya’s President William Ruto and Ethiopian Prime Minister Abiy Ahmed.
It happened as ousted prime minister Abdalla Hamdok resurfaced as the face of the alternative political movements seeking a role in the transitional dialogue in Sudan.
Sudan’s leader of the Transitional Sovereign Council Abdel Fattah al-Burhan was this week recording new successes on the diplomatic front, shaking hands with Kenya’s President William Ruto and Ethiopian Prime Minister Abiy Ahmed.
It happened as ousted prime minister Abdalla Hamdok resurfaced as the face of the alternative political movements seeking a role in the transitional dialogue in Sudan.
“Efforts to bring all the concerned parties in the Sudan conflict together to resolve the conflict are in top gear. It is important that all stakeholders in the Sudan are involved in reaching a solution that will stop the loss of life, destruction of infrastructure and property and return the country to normalcy,” Ruto said.
https://www.theeastafrican.co.ke/tea/rest-of-africa/-burhan-mends-fences-with-kenya-ethiopia-as-hamdok-returns-4440374
The East African
Burhan mends fences with Kenya, Ethiopia as Hamdok returns
The trips mean Burhan has, at least in public, repaired relations which looked broken and confirm that he is still the de facto leader in Sudan.
#Ethiopia: Ministry of Mines reveals unsatisfactory export earnings; security threats, illegal trading to blame
Ministry of Mines has reported that the country fell short of its export earning target for the first quarter of the current fiscal year, achieving only 56%. The Ministry has attributed this setback to several factors, including security threats, smuggling, and illegal trading.
The State Minister for Mines, Million Mathewos, revealed to the Ethiopian Press Agency that the country earned $63 million in the past three months, failing to reach the planned target. Despite plans to market 1,245 kilograms of gold produced at the industry level, only 719 kilograms were successfully sold to the foreign market, earning $41 million. Additionally, 202 kilograms of gold were produced by Artesian miners, generating $17 million in revenue.
Million identified security threats, smuggling, and illegal trading as the main reasons behind the significant decline in export earnings.
Ministry of Mines has reported that the country fell short of its export earning target for the first quarter of the current fiscal year, achieving only 56%. The Ministry has attributed this setback to several factors, including security threats, smuggling, and illegal trading.
The State Minister for Mines, Million Mathewos, revealed to the Ethiopian Press Agency that the country earned $63 million in the past three months, failing to reach the planned target. Despite plans to market 1,245 kilograms of gold produced at the industry level, only 719 kilograms were successfully sold to the foreign market, earning $41 million. Additionally, 202 kilograms of gold were produced by Artesian miners, generating $17 million in revenue.
Million identified security threats, smuggling, and illegal trading as the main reasons behind the significant decline in export earnings.
#Ethiopia - #Saudi_Arabia: A delegation led by Saleh bin Nasser Al-Jasser, the Minister of Transport and Logistics Services of the Kingdom of Saudi Arabia, together with leaders of businesses and companies working in logistics, visited the Ethiopian #Modjo Dry Port and Terminal and Indode #Ethio-#Djibouti Railway Station today.
The high level delegation arrived in Addis Abeba on Monday night.
During the visit to Modjo Dry Port and Terminal, Ethiopia's largest, the Saudi delegation was accompanied by Dr. Alemu Sime, Ethiopia's Minister of Transport and Logistics, and his deputy, State Minister Ber'o Hassan.
The two sides discussed increasing cooperation in transport and logistics areas. Others present during the visit include senior officials of the Ethiopian #Maritime Authority and Ethio-Djibouti Railway office.
It is to be recalled that on 10 of November, Prime Minister Abiy Ahmed met with Saudi Crown Prince Mohammed bin Salman where he secured an agreement for debt restructuring. AS
The high level delegation arrived in Addis Abeba on Monday night.
During the visit to Modjo Dry Port and Terminal, Ethiopia's largest, the Saudi delegation was accompanied by Dr. Alemu Sime, Ethiopia's Minister of Transport and Logistics, and his deputy, State Minister Ber'o Hassan.
The two sides discussed increasing cooperation in transport and logistics areas. Others present during the visit include senior officials of the Ethiopian #Maritime Authority and Ethio-Djibouti Railway office.
It is to be recalled that on 10 of November, Prime Minister Abiy Ahmed met with Saudi Crown Prince Mohammed bin Salman where he secured an agreement for debt restructuring. AS
#Ethiopia: Drought induced hunger claims dozens of lives, left millions at risk in #Tigray and #Amhara regions
Tragic consequences have unfolded in #Tanqua_Abergele, Tigray, where a relentless drought has led to hunger and despair. Reports reveal at least 46 individuals have succumbed to starvation, with 90,000 people caught in distress without lifesaving assistance.
The drought has decimated crops, putting over 90,000 people at risk without humanitarian aid. The impact extends beyond Tanqua Abergele, affecting 20% of Tigray's farmland, compounding the region's existing challenges due to conflict.
Neighboring Amhara region is also affected, with 40 reported deaths related to hunger. Water scarcity and lack of medicine have led to livestock fatalities. The ongoing drought has affected 1.8 million people in Amhara, adding to the loss of animals.
https://addisstandard.com/drought-induced-hunger-claims-dozens-of-lives-left-millions-at-risk-in-tigray-and-amhara-regions/
Tragic consequences have unfolded in #Tanqua_Abergele, Tigray, where a relentless drought has led to hunger and despair. Reports reveal at least 46 individuals have succumbed to starvation, with 90,000 people caught in distress without lifesaving assistance.
The drought has decimated crops, putting over 90,000 people at risk without humanitarian aid. The impact extends beyond Tanqua Abergele, affecting 20% of Tigray's farmland, compounding the region's existing challenges due to conflict.
Neighboring Amhara region is also affected, with 40 reported deaths related to hunger. Water scarcity and lack of medicine have led to livestock fatalities. The ongoing drought has affected 1.8 million people in Amhara, adding to the loss of animals.
https://addisstandard.com/drought-induced-hunger-claims-dozens-of-lives-left-millions-at-risk-in-tigray-and-amhara-regions/
Addis Standard
Drought induced hunger claims dozens of lives, left millions at risk in Tigray and Amhara regions - Addis Standard
In Tanqua Abergele district, a staggering 17,000 hectares of crops were decimated by the drought out of the total 19,000 hectares of land under cultivation (Social Media) Addis Abeba – Tragic consequences have unfolded in Abergelle Yechila, a district located…
#Ethiopia Secures Over $350 Million for National #Digital_ID Program
Ethiopia's Fayda digital ID initiative has obtained over $350 million in supplementary donor funds, a #World_Bank planning document reveals. The biometrics-based national ID system will utilize the contributions across key components, augmenting domestic investment.
Allocations include $16 million from the World Bank's International Development Association plus $5 million more to cultivate institutional capacity and public trust. Further funds target technical infrastructure, inclusive enrollment of citizens, upgraded service delivery, and administrative needs.
By 2025, Ethiopia aims to issue digital IDs to all residents, with around 70 m projected to be registered thus far. Potential adoption barriers involve low awareness of the technologies used. Over 100 staff and numerous partner officers will support rollout.
https://www.biometricupdate.com/202311/world-bank-document-reveals-350m-in-donor-funding-for-ethiopias-national-digital-id
Ethiopia's Fayda digital ID initiative has obtained over $350 million in supplementary donor funds, a #World_Bank planning document reveals. The biometrics-based national ID system will utilize the contributions across key components, augmenting domestic investment.
Allocations include $16 million from the World Bank's International Development Association plus $5 million more to cultivate institutional capacity and public trust. Further funds target technical infrastructure, inclusive enrollment of citizens, upgraded service delivery, and administrative needs.
By 2025, Ethiopia aims to issue digital IDs to all residents, with around 70 m projected to be registered thus far. Potential adoption barriers involve low awareness of the technologies used. Over 100 staff and numerous partner officers will support rollout.
https://www.biometricupdate.com/202311/world-bank-document-reveals-350m-in-donor-funding-for-ethiopias-national-digital-id
#NewsAlert: Gov’t, #OLA second round talks in Tanzania end without agreement, again
After two weeks of talks that began with promises of ending the five-year militarized conflict in #Oromia region between government forces and forces of the Oromo Liberation Army (OLA), the talks have formally ended without agreement for the second time.
The federal government made the official announcement late tonight that the talks that were taking palace in Dar es Salaam, Tanzania ended without agreement. It came after days of on and off reports of stalemate over key substantive issues in the peace talks, which kicked off in off with senior military officials of the two sides. https://addisstandard.com/?p=39494
Developing story….
After two weeks of talks that began with promises of ending the five-year militarized conflict in #Oromia region between government forces and forces of the Oromo Liberation Army (OLA), the talks have formally ended without agreement for the second time.
The federal government made the official announcement late tonight that the talks that were taking palace in Dar es Salaam, Tanzania ended without agreement. It came after days of on and off reports of stalemate over key substantive issues in the peace talks, which kicked off in off with senior military officials of the two sides. https://addisstandard.com/?p=39494
Developing story….
Addis Standard
Updated: Gov’t, OLA second round talks in Tanzania end without agreement, again - Addis Standard
Updated: Gov’t, OLA second round talks in Tanzania end without agreement, again Addis Standard News Alert -
#Ethiopia - Updated News: Gov’t, #OLA second round talks in #Tanzania end without agreement, again
According to well placed diplomatic sources who spoke to #Addis_Standard today, the two sides failed to pass a stalemate that intensified since yesterday “over matters of significance.”
The OLF side tabled proposals to negotiate “a substantial shift in governance”, including demands for arrangements of “inclusive governance and embrace of all political parties in Oromia”, whereas the government’s side focused on arrangements with OLA alone, similar in substance to the #Pretoria Cessation of Hostilities Agreement signed between the government and the TPLF in November last year, the sources further said. https://addisstandard.com/?p=39494
According to well placed diplomatic sources who spoke to #Addis_Standard today, the two sides failed to pass a stalemate that intensified since yesterday “over matters of significance.”
The OLF side tabled proposals to negotiate “a substantial shift in governance”, including demands for arrangements of “inclusive governance and embrace of all political parties in Oromia”, whereas the government’s side focused on arrangements with OLA alone, similar in substance to the #Pretoria Cessation of Hostilities Agreement signed between the government and the TPLF in November last year, the sources further said. https://addisstandard.com/?p=39494
Addis Standard
Updated: Gov’t, OLA second round talks in Tanzania end without agreement, again - Addis Standard
Updated: Gov’t, OLA second round talks in Tanzania end without agreement, again Addis Standard News Alert -
Updated: “A historical opportunity to take a leap in the right direction has been lost because of Ethiopian government [failure] to course correct": #OLA
https://addisstandard.com/newsalert-govt-ola-second-talks-in-tanzania-end-without-agreement-again/
The OLA in its part confirmed that the talks have collapsed and blamed “the Ethiopian government was only interested in co-optation of the leadership of the OLA rather than beginning to address the fundamental problems that underlie the county’s seemingly insurmountable security and political challenges.”
In a statement it just released, the group further said “the OLF-OLA involved its highest leadership in this round of the talks. To pave the path for addressing the main demands of our people, the OLF-OLA tabled a series of inclusive proposals from Zanzibar to Dares Salaam to negotiate a space for a meaningful change in the governance of the Oromia region.”
https://addisstandard.com/newsalert-govt-ola-second-talks-in-tanzania-end-without-agreement-again/
The OLA in its part confirmed that the talks have collapsed and blamed “the Ethiopian government was only interested in co-optation of the leadership of the OLA rather than beginning to address the fundamental problems that underlie the county’s seemingly insurmountable security and political challenges.”
In a statement it just released, the group further said “the OLF-OLA involved its highest leadership in this round of the talks. To pave the path for addressing the main demands of our people, the OLF-OLA tabled a series of inclusive proposals from Zanzibar to Dares Salaam to negotiate a space for a meaningful change in the governance of the Oromia region.”
#Ethiopia: #IGAD chief appeals to gov’t, #OLA to uphold commitment to peace process; optimistic both parties will initiate new round of talks
The Executive Secretary of the Intergovernmental Authority on Development (IGAD), Dr Workneh Gebeyehu, appealed “to all involved parties to uphold their commitment to the peace process in the best interest of the people of Ethiopia.”
Dr Workneh made the appeal in a statement issued after the news that the second round peace talks between the Ethiopian government and Oromo Liberation Army (OLA) ended Tuesday night without agreement.
IGAD played a key role in facilitating the peace talks that were taking place in Dar es Salaam, Tanzania.
Read more at: https://x.com/addisstandard/status/1727201520989479206?s=46&t=ofAzVW8-64dDK-xsjodCGA
The Executive Secretary of the Intergovernmental Authority on Development (IGAD), Dr Workneh Gebeyehu, appealed “to all involved parties to uphold their commitment to the peace process in the best interest of the people of Ethiopia.”
Dr Workneh made the appeal in a statement issued after the news that the second round peace talks between the Ethiopian government and Oromo Liberation Army (OLA) ended Tuesday night without agreement.
IGAD played a key role in facilitating the peace talks that were taking place in Dar es Salaam, Tanzania.
Read more at: https://x.com/addisstandard/status/1727201520989479206?s=46&t=ofAzVW8-64dDK-xsjodCGA
#Gaza truce agreed; #Palestinian prisoners to be freed
#Israel and #Hamas agree on #Qatar-mediated deal for a four-day truce in Gaza and release of 50 captives held in the enclave. About 150 Palestinian women and children held in Israeli jails to be freed as part of the deal.
PM Netanyahu says agreement does not mean war will stop, vows Israeli military will press on after the pause in fighting.
Palestinian President Mahmoud Abbas has commended the efforts of Qatar and #Egypt in helping secure the pause in fighting, while renewing calls for a “comprehensive cessation of the Israeli aggression against the Palestinian people”.
More than 14,100 people killed in Gaza since 7 October. In Israel, the official death toll from Hamas’s attacks stands at about 1,200.
https://www.aljazeera.com/news/liveblog/2023/11/22/israel-hamas-war-live-israeli-government-to-vote-on-gaza-truce-deal
#Israel and #Hamas agree on #Qatar-mediated deal for a four-day truce in Gaza and release of 50 captives held in the enclave. About 150 Palestinian women and children held in Israeli jails to be freed as part of the deal.
PM Netanyahu says agreement does not mean war will stop, vows Israeli military will press on after the pause in fighting.
Palestinian President Mahmoud Abbas has commended the efforts of Qatar and #Egypt in helping secure the pause in fighting, while renewing calls for a “comprehensive cessation of the Israeli aggression against the Palestinian people”.
More than 14,100 people killed in Gaza since 7 October. In Israel, the official death toll from Hamas’s attacks stands at about 1,200.
https://www.aljazeera.com/news/liveblog/2023/11/22/israel-hamas-war-live-israeli-government-to-vote-on-gaza-truce-deal
#Ethiopia-#France: Delegation of French companies to arrive in Ethiopia
Twenty French companies will begin pre-investment screening visits to Ethiopia today.
The world’s most populous landlocked country has long enjoyed an economic partnership with France. Between 1996-2020 French companies invested USD 84 million there, creating over 4000 jobs. Today’s visits follow those from French Chamber of Commerce officials in June.
Ethiopia consistently posts strong economic growth rates and boasts a young population eager to work. The country, however, is sliding towards authoritarianism and shifting away from the West. This visit from French CEO’s directly follows Ethiopia’s formal acceptance into the BRICS.
The BRICS now contain 46% of world population. The group increasingly alters trading patterns and threatens Western-led geopolitical order.
https://www.foreignbrief.com/delegation-of-french-companies-to-arrive-in-ethiopia/
Twenty French companies will begin pre-investment screening visits to Ethiopia today.
The world’s most populous landlocked country has long enjoyed an economic partnership with France. Between 1996-2020 French companies invested USD 84 million there, creating over 4000 jobs. Today’s visits follow those from French Chamber of Commerce officials in June.
Ethiopia consistently posts strong economic growth rates and boasts a young population eager to work. The country, however, is sliding towards authoritarianism and shifting away from the West. This visit from French CEO’s directly follows Ethiopia’s formal acceptance into the BRICS.
The BRICS now contain 46% of world population. The group increasingly alters trading patterns and threatens Western-led geopolitical order.
https://www.foreignbrief.com/delegation-of-french-companies-to-arrive-in-ethiopia/
#Kenya partners with #UNDP and #World_Bank to attract $10bn in #FDI
“To unlock FDI and position Kenya as a competitive investment destination, the National Investment Council, through its Secretariat, the Kenya Investment Authority, has developed an Investment Facilitation Framework to create a transparent, predictable, efficient and trusted mechanism,” Rebecca Miano, Cabinet Secretary of Investment, Trade and Industry, said.
Ever since the Covid-19 pandemic, the government in Nairobi has struggled to attract business people from abroad, with FDI inflows going down from $1.1bn in 2019 to just $463m in 2021 before making a shy comeback in 2022 ($759m).
In June 2023, the country’s President William Ruto signed the 2023 Finance Act, which includes a series of tax and regulatory changes aimed at improving the FDI climate. According to the US Department of State, however, US businesses in Kenya continue to face bureaucratic processes and delays in accessing business licenses that allow them to operate in the country. https://www.investmentmonitor.ai/news/kenya-partners-with-undp-world-bank-to-attract-ten-billion-dollars-in-fdi/?cf-view&Top-Article-Share-Button-clicked:%20Share%20on%20X
“To unlock FDI and position Kenya as a competitive investment destination, the National Investment Council, through its Secretariat, the Kenya Investment Authority, has developed an Investment Facilitation Framework to create a transparent, predictable, efficient and trusted mechanism,” Rebecca Miano, Cabinet Secretary of Investment, Trade and Industry, said.
Ever since the Covid-19 pandemic, the government in Nairobi has struggled to attract business people from abroad, with FDI inflows going down from $1.1bn in 2019 to just $463m in 2021 before making a shy comeback in 2022 ($759m).
In June 2023, the country’s President William Ruto signed the 2023 Finance Act, which includes a series of tax and regulatory changes aimed at improving the FDI climate. According to the US Department of State, however, US businesses in Kenya continue to face bureaucratic processes and delays in accessing business licenses that allow them to operate in the country. https://www.investmentmonitor.ai/news/kenya-partners-with-undp-world-bank-to-attract-ten-billion-dollars-in-fdi/?cf-view&Top-Article-Share-Button-clicked:%20Share%20on%20X
Investment Monitor
Kenya partners with UNDP and World Bank to attract $10bn in FDI
Kenya is hoping to pull in $10bn worth of investments in the face of political unrest and dwinding FDI levels.